Program Rent Limits. The Total Housing Expense for the Sixty Percent Units will be limited to the lesser of one-twelfth (1/12th) of thirty percent (30%) of the of the MTSP Limits 60% limit , adjusted for family size, as established by HUD. The Total Housing Expense for the *** Units will be limited to one-twelfth (1/12th) of thirty percent (30%)[if other units are at 50% of median income] the MTSP Limits Very Low Income limit, adjusted for family size [if the limit is other than 50%] ***% of area median gross income based upon the MTSP Limits, adjusted for family size. These restrictions are based on incomes for an imputed family size, assuming occupancy by one and one-half persons per bedroom (fractions rounded up). These restrictions shall apply until the latest of the period during which the Mortgage Loan is outstanding or the compliance period required by the LIHTC regulatory agreement or fifty (50) years after closing of the Mortgage Loan.
Appears in 4 contracts
Samples: Regulatory Agreement, Regulatory Agreement, Regulatory Agreement
